On Holding AG (NYSE:ONON) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of On Holding AG (NYSE:ONON - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,812 shares of the company's stock after selling 64,467 shares during the quarter. Bank of New York Mellon Corp's holdings in ON were worth $10,998,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Private Trust Co. NA acquired a new position in shares of ON in the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in ON in the 3rd quarter valued at $29,000. Strategic Financial Concepts LLC purchased a new position in shares of ON during the 4th quarter worth $30,000. Legacy Bridge LLC acquired a new stake in shares of ON during the fourth quarter worth $43,000. Finally, Arcadia Investment Management Corp MI acquired a new position in ON in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ONON. Stifel Nicolaus upped their price objective on shares of ON from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Morgan Stanley increased their price target on shares of ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and set a $64.00 price objective on shares of ON in a research note on Tuesday, March 4th. Raymond James upgraded ON from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Finally, Bank of America began coverage on ON in a report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price on the stock. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $61.90.

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ON Trading Up 0.1 %

ONON traded up $0.04 on Friday, hitting $46.41. 2,815,692 shares of the company's stock were exchanged, compared to its average volume of 4,359,032. The stock has a fifty day moving average of $54.14 and a two-hundred day moving average of $52.58. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The firm has a market cap of $29.22 billion, a PE ratio of 107.93, a P/E/G ratio of 1.02 and a beta of 2.35.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.